On December 15, 2017 (the day the City of Austin completed their Full Purpose Annexation) the the Multiple Utility District converted into River Place Limited District (LD).

The and LD is comprised of five Board of Directors. With certain qualifications any resident of the District can apply for a board position. The directors are publicly elected to their position during the annual May General Election period. The board members select the officers' positions for the board. Elected board members serve a four year term.

The HOA is comprised of nine Board of Directors that serve a three year term. Interested residents submit an application for their desire for a board position to the Nominating Committee. The Nominating Committee reviews all board position applications. Potential board member names are placed on the annual proxy for the HOA. At the annual HOA meeting, members are selected by proxy vote. The board members select officerS' positions for the board. Board members terms are for three years.

The LD is funded through an annual ad valorem tax. When the City of Austin completed the Full Purpose Annexation they assumed any remaining outstanding LD debt and therefore the ad valorem tax will only fund the operations and maintenance of the items mentioned above.

The HOA is funded through annual homeowner dues.

The River Place Residential Community Association (RPRCA), more commonly known as the Home Owners Association (HOA), exists for two primary purposes-- to manage the common areas and to enforce the Covenants, Conditions, and Restrictions (CCR’s) - as per the legal documents that created the HOA.

These documents also call for two mandatory committees – Nominating Committee and the Architectural Control Committee (ACC). Additionally the HOA sponsors special events throughout the year (Easter Egg Hunt, Dads in the Hood, etc.). ​

The function of these 2 entities can vary from place to place. In River Place, the Limited District (LD) is a governmental agency that manages parks and recreational facilities such as the tennis courts, soccer fields, playgrounds, pavilions, nature trails, habitat nature pond and the boardwalk.​ Additionally the LD is responsible for the single stream recycling, and solid waste disposal.

Prior to October 2014 the LD was also responsible for all aspects of water and wastewater service within the District, as well as drainage throughout the District. ​